Gain 100 points in less than six months? is it possible?

[Anonymous]

• If you accept the settlement from Verizon, you'll receive a 1099-C for the discharged debt. Any forgiven amount over $599 triggers a 1099-C. Just an FYI. I've been trying to avoid those for small amounts, because they can be a hassle for taxes.
• Yes, you can probably trust NES to keep their word.
• You can keep trying to offer Pay For Deletes. No guarantee they will budge.
• GW letters are goodwill letters. They are sent after payment to request deletion out of goodwill. You can also send them to creditors with late payments recorded, and request goodwill removal of those lates.
• You should not hire Lexington Law or any other firm that promises to "fix" your credit.
• You should absolutely pay it even if it won't be removed. They will factor in your outstanding debts when you apply for a mortgage.
• Why are you going to pay off your installment loan? You should let that ride as long as possible as it's your only installment loan. 
• Your FICO 08 scores are not your mortgage scores. Even the mortgage scores you get via MyFICO may not reflect what a lender will pull. Your best bet (I think) is to find a lender you plan to work with, determine what scores they see and come up with a plan of attack. I wouldn't worry about the hard pull right now.
• The hard pulls from the car dearlerships won't affect you very much - you get time to "shop" in the same industry and only receive a single "hit" for the pulls. 

[Anonymous]

The sun loan is not my only installment loan. My truck loan is labeled installment loan so is my secured loan from my credit union I mainly want to pay it off cause it has gained over $60 interest in 3 months. What exactly is a 1099C? So should I pay my current up to date debt off or collections first?

[Anonymous]

Current debt 1st as this will have a greater impact on your credit score.  Paying off collections may result in the collection updating and possibly hurting your score

[frank0830]

No, there is no correction. I wrote it exactly as it was told to me by my lender. -though I had no debt in collection, they specifically said to get my CC down to 20-30% because it shows utilization. $0 was actually bad. 

[Anonymous]

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@frank0830 wrote:

No, there is no correction. I wrote it exactly as it was told to me by my lender. -though I had no debt in collection, they specifically said to get my CC down to 20-30% because it shows utilization. $0 was actually bad. 

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It may be what you lender told you, but its still incorrect as written.

Your statement was:

"do not pay them down to -0"

On its face, that statement implies *all* cards should carry a balance. That is incorrect advice, no matter what the lender told you. I was clarifying that the BEST strategy that ALWAYS gets you in max FICO score territory is for ONE card to carry a SMALL balance. It a well established strategy that many, many people here have verified works every time.

[Anonymous]

Such good advice from people here. You definately have room to make big improvements, and you already know what the problem areas are. You need to get those collections paid for delete as fast as you can, so you score can START to recover and rise. Don't get me wrong, you'll have a 50 point increase as soon as you tackle those. But you need to keep rising. Pay for Delete. Write goodwill letters.

Goodluck.

[Anonymous]

Credit update today my fico 8 from experian updated to 608!!!!! took my self off as authorized used on the cap one cards. And the discount tire card that was maxed out reported 1%.and the Walmart card fell off. Still waiting on everything else to update and report.
Question. How come cap1 never does CLI my mother has her card for over 2 years never paid late always paid at least double payments and always carried too much of a balance and it's still at $500 limit her fico 8 is 619

[Anonymous]

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@Anonymous wrote:
Credit update today my fico 8 from experian updated to 608!!!!! took my self off as authorized used on the cap one cards. And the discount tire card that was maxed out reported 1%.and the Walmart card fell off. Still waiting on everything else to update and report.
Question. How come cap1 never does CLI my mother has her card for over 2 years never paid late always paid at least double payments and always carried too much of a balance and it's still at $500 limit her fico 8 is 619

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Has she gone online and requested a CLI?

[Anonymous]

Yes she has requested every month for 6 months and her credit score is usally higher. She had a fee INQ and maxed one of her cards. 2 months ago her fico score was 648. None of her cards will increase her limit.

[TuffTurkey]

Its Possible. Ive done it in 3 months. YMMV. But attacking derogs, negative things on credit. I.e CO , Late payments, Utilization. Etc Etc. Correcting these things showed me best results and keeping up with your currents and on time. But anything is possible.